At the beginning of each year, the Internal Revenue Service (IRS) releases information on the likelihood of

Question:

At the beginning of each year, the Internal Revenue Service (IRS) releases information on the likelihood of a tax return being audited. In 2010, the IRS audited 1,581,394 individual tax returns from the total of 142,823,105 filed returns; also, the IRS audited 29,803 returns from the total of 2,143,808 returns filed (IRS 2010 Data Book).
a. Suppose an individual tax return from 2010 is randomly selected. What is the probability that the return was audited by the IRS?
b. Refer to part a. Determine the probability that an individual return was not audited by the IRS.
c. Suppose a tax return from 2010 is randomly selected. What is the probability that the return was audited by the IRS?
d. Refer to part c. Determine the probability that a return was not audited by the IRS.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...